Merger would create one of the largest independent credit managers
Antares Capital, backed by CPP Investments and Northleaf Capital Partners, is contemplating a potential acquisition of Hayfin Capital Management, its European counterpart. Sources familiar with the matter told Bloomberg that Antares is keen on the prospect of incorporating Hayfin to expedite its expansion into the European market. While formal discussions have not yet commenced, the possibility of alternative buyers emerging for Hayfin remains open.
“We are always considering opportunities that advance our strategic objectives and create value,” said Carol Ann Wharton, spokesperson for Antares Capital.
Should the merger materialize, it would bring together Antares, which manages over $64 billion in assets, and Hayfin, which oversees $32 billion in assets. This union would position them as one of the largest independent credit managers in the globe, comparable in size to competitors like HPS Investment Partners.
In 2015, CPP Investments acquired GE Capital's sponsor finance business, including Antares, subsequently selling a 16% stake to Northleaf the following year.
Hayfin is jointly owned by British Columbia Investment Management Corp. and its management and employees. The firm has been exploring various options, including a potential sale, as reported by Bloomberg.
Earlier this year, Antares hired a Hayfin executive as its first employee outside North America. Sheila Pejavar Brown's appointment was hailed by Tim Lyne, Antares CEO, who expressed his confidence in her ability to strengthen the firm's presence in the UK and European markets.
